CAC 40
23 companies
Airbus
Aerospace
Airbus proved that four weak players can beat one dominant incumbent - if the coalition is architected correctly. When the European consortium formed...
Hermès
Luxury Goods
Hermès spent its first 100 years on a single Paris street perfecting saddles and harnesses for horses. When the automobile arrived, the company pivote...
LVMH
Luxury Goods
In 1984, Bernard Arnault bought Christian Dior and began building what would become the world's largest luxury goods company. Conventional wisdom said...
Accor
Hospitality
Scatters shelter colonies across continents like coral polyps establishing reefs, each node autonomous yet drawing strength from the networked whole.
Air Liquide
Industrial Gases
Air Liquide posted €27.06 billion revenue in 2024 with €3.31 billion net profit, but the numbers obscure a metabolic transformation. The French indust...
Alstom
Transportation
Alstom builds rail networks like slime molds build transport tubes - optimized paths moving resources (people, cargo) between nodes (cities). The sign...
Arkema
Chemicals
Arkema produces specialty chemicals - adhesives, polymers, coatings for industrial applications. Their molecules are synthetic catalysts, enabling rea...
Atos
IT Services & Consulting
Atos manages corporate IT infrastructure like glial cells supporting neurons—invisible support systems that maintain connectivity, clear waste, and re...
BNP Paribas
Banking
BNP Paribas generated €3.04 billion net income in Q3 2025 (up 6.1% year-over-year) while maintaining a 12.5% CET1 capital ratio and cost of risk below...
Bouygues
Construction & Infrastructure
Bouygues posted €59.9 billion revenue in 2024 across construction (Bouygues Construction, Colas roads, Bouygues Immobilier property), telecoms (Bouygu...
Carrefour Group
Grocery & Supermarkets
Carrefour posted €87.3 billion revenue in 2024 across 14,000+ stores in 8 countries, processing 8 billion transactions from 80 million customers throu...
Crédit Agricole
Banking
Crédit Agricole is the world's largest cooperative financial institution with 12.1 million mutual shareholders owning 2,383 local banks, which own 39...
Eiffage
Construction & Infrastructure
French construction and concessions group—builds infrastructure then operates it for decades, like beavers constructing dams they inhabit. Vertically...
Engie
Energy
Engie added 4.2 GW of renewable capacity in 2024, bringing total installed renewables to 46 GW—43% of generation capacity, up from 41% the prior year....
Kering
Luxury Goods
In 2024, Kering posted €17.2 billion in revenue—down 12% year-over-year—while operating margin collapsed from 24.3% to 14.9%. The group appointed thre...
L'Oréal
Consumer Goods
L'Oréal achieved €43.48 billion revenue in 2024 (up 5.6% like-for-like) with record 20% operating margin, outperforming a normalizing global beauty ma...
Legrand
Industrial
Legrand posted €8.6 billion revenue in 2024 with 20.5% operating margin and €1.3 billion free cash flow, selling electrical infrastructure where data...
Saint-Gobain
Industrial
Saint-Gobain posted €47.9 billion revenue in 2024 with record 11.4% operating margin and €4 billion free cash flow, selling construction materials acr...
Sanofi
Pharmaceuticals
Sanofi generated €41.1 billion revenue in 2024 (up 9%) with Dupixent blockbuster drug hitting €15.125 billion (up 22%), while simultaneously deploying...
Schneider Electric
Electrical Equipment
Schneider Electric posted €38.15 billion revenue in 2024 (8.4% organic growth) with €4.2 billion free cash flow and 18.6% adjusted EBITA margin, drive...
TotalEnergies
Energy
TotalEnergies generated $17 billion cash flow from Exploration & Production in 2024 (producing 1.4 Mb/d oil) while simultaneously investing $4 billion...
Vivendi
Media & Entertainment
Vivendi executed a corporate fission on December 13, 2024, spinning off Canal+ (pay TV), Louis Hachette Group (publishing), and Havas (advertising) as...
Worldline
Financial Services
The €4.1 billion goodwill impairment Worldline recognized in H1 2025 quantifies the gap between acquisition price and biological reality. The payment...